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ARA

ARA

Associate, Reinsurance Administration

Available in: English


Overview

Reinsurance plays a vital role in insurance and financial services. LOMA's Associate, Reinsurance Administration™ (ARA™) Program will help you grasp reinsurance principles, the financial importance of reinsurance, and the development, administration and auditing of reinsurance products.

By completing this designation you will learn:

  • Key players and the reasons for using reinsurance
  • Laws and regulations affecting reinsurance transactions
  • Provisions of a reinsurance contract and how they affect the administration of reinsurance transactions
  • Processes involved in the administration of new business, in-force business, and terminations

Topics

  • Compliance and Legal
  • Finance and Accounting
  • Life Insurance
  • Operations and Administration
  • Reinsurance

Courses

Learners must complete six required courses to earn the ARA designation.

AIRC 411 — The Regulatory Environment for Life Insurance

AIRC 411 discusses the compliance function in a life insurance company and how the state and federal governments regulate life insurance companies operating in the United States.

AIRC 421 — Regulation of Life Insurance Products, Sales & Operations

AIRC 421 explains state and federal regulation of life insurance and annuity product design. The course also describes the regulation of life company operations, including underwriting, claims, reinsurance, market analysis and examinations.

ARA 440 — Reinsurance Administration

ARA 440 shows how reinsurance strengthens the insurance industry and increases the likelihood that insurance companies will have sufficient funds to pay anticipated claims. It also discusses reinsurance principles, regulation, typical provisions in a reinsurance agreement, the administration of reinsurance business, and the importance of quality control for reinsurance.

LOMA 280 — Principles of Insurance

LOMA 280 introduces the principles of insurance, the process of becoming insured, and the policyowner’s contractual rights. The course includes information on the features of individual and group life insurance, health insurance, and annuity products.

LOMA 281 — Meeting Customer Needs with Insurance and Annuities

LOMA 281 is an online course that uses a variety of media to teach principles of insurance, insurance products, and the policyowner’s contractual rights. The course describes the features of individual and group life insurance and annuity products, and emphasizes how insurance companies serve customers and meet customer needs through the products they provide.

LOMA 286 — Principles of Financial Services and Products

The major categories of financial services — cash management, credit, asset protection, asset accumulation and management, and asset distribution — form the framework for LOMA 286, which surveys banking, insurance, and investment products.

LOMA 290 — Insurance Company Operations

LOMA 290 describes how life insurance companies operate in today’s global environment: how they are organized, how they are managed, and the roles of functional and support units in developing, distributing, issuing, and administering life insurance and annuity products.

LOMA 291 — Improving the Bottom Line: Insurance Company Operations

LOMA 291 is an online course that uses a variety of media to teach operations, functions, and product development basics unique to the insurance organization. In addition, the course will teach that (1) a company’s success depends on its operational efficiency and effectiveness and (2) every employee has a role in ensuring the company’s financial success.

LOMA 301 — Insurance Administration

LOMA 301 provides a detailed discussion of the activities of insurance administration for individual and group life coverages, focusing on underwriting, reinsurance, claims, and customer service.

LOMA 311 — Business Law for Financial Services Professionals

LOMA 311 presents the basic features and principles of the legal environment in which financial services companies around the world operate.

LOMA 361 — Accounting and Financial Reporting in Life Insurance Companies

LOMA 361 provides a broad exposure to financial and managerial accounting in life insurance companies, including the corporate and regulatory environment in which accounting functions occur.

ARA Curriculum

Required ARA courses
Learners must complete one course from each subject category
to earn the ARA designation.
PrinciplesInsurance OperationsInsurance AdministrationLaw/ComplianceAccountingReinsurance Administration
LOMA 280
or
LOMA 281
or
LOMA 286
LOMA 290
or
LOMA 291
LOMA 301LOMA 311
or
AIRC 411
or
AIRC 421
AIRC 361ARA 440

Course Credit Notes

Learners who have credit for the discontinued courses below automatically receive AIRC credit as shown.

Discontinued courseAIRC credit
LOMA 310 or LOMA 315LOMA 311
AIRC 410AIRC 411
AIRC 420AIRC 421
  • LOMA 286 will be offered only through the end of 2014.
  • LOMA 326 will be offered only thorugh the end of 2015.